The Community Buzz

EU preparing for 'state of emergency' after Greek talks collapse

Greece and its creditors hardened their stances on Monday after the collapse of talks aimed at preventing a default and possible euro exit, prompting Germany's EU commissioner to say the time had come to prepare for a "state of emergency".

Prime Minister Alexis Tsipras ignored pleas from European leaders to act fast. Instead he blamed creditors for Sunday's breakdown of the cash-for-reform talks, the biggest setback in long-running negotiations to unlock aid.